SEC clears planned initial public offering of Camarin Doctors Hospital
THE Securities and Exchange Commission (SEC) has favorably considered the initial public offering (IPO) of healthcare provider Optimum Quality Health Ventures, Inc.
The north Caloocan-based hospital, which also transacts under the name Camarin Doctors Hospital, has been able to get its registration statement approved by the commission, as stated in an SEC press release on Wednesday.
The registration covers around 2.3 million shares of Camarin Doctors Hospital and is subject to the company’s compliance with the remaining requirements.
The company will offer 2,500 blocks composed of 100 shares each with prices ranging from P200,000 to P400,000 per block.
The shares will be traded over the counter through the hospital’s internal staff as the intended market for the maiden offering is medical practitioners and their relatives.
Camarin Doctors Hospital expects to net P840.7 million from the offer, which it intends to use for loan payments, acquisition of medical equipment, hospital and furniture, payment advances to stockholders, operating expenses, hospital construction, and other professional fees.
The company is currently completing its healthcare facility, which is worth P499.88 million, in a 2,716-square-meter (sq.m.) property in Camarin, Caloocan.
The hospital will have a total of seven floors, 105 beds, and a floor area of 14,288 sq.m.
“Physicians and other medical specialists who subscribe to the IPO will be qualified to practice at the hospital, subject to pre-qualification procedures,” the SEC said.
Subscribers to the IPO will also be given benefits and privileges including discounts on medical and dental services at the Camarin Doctors Hospital. The benefits are said to be applicable to the stockholders, their spouse, dependents and natural parents. — Justine Irish DP. Tabile
